Stock Market & Financial Investment News

BlueLinx announces terms for $40M rights offeringBlueLinx announced that it has set the terms for its previously announced $40M rights offering. Under the terms of the rights offering, the company is distributing, at no charge, to the holders of its common stock on March 4, one non-transferable subscription right for each share of the Company's common stock then owned. Each subscription right will entitle the holder to purchase 0.35845026 of a share of common stock at the subscription price of $1.75 per whole share. The Company expects to utilize the estimated net proceeds of the rights offering of approximately $38.8M to repay indebtedness under its U.S. revolving credit facility.